Bob Elliott
· Nonconsensus
· March 11, 2026 at 10:37
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Summary
The author highlights a significant 10 million barrel per day gap in oil supply caused by a current disruption. They argue that drawing down public reserves is only a temporary stop-gap measure that will prove insufficient if the underlying conflict persists for several months.
•A current disruption has created a ~10 million barrel per day gap in global oil supply.
•Drawing down public reserves is a temporary solution that will run out quickly if the conflict continues.
•The author reflects on their early career experience analyzing the Canadian oil sands.